iamdeepak

ES1!, S&P with topping pattern

Short
iamdeepak Updated   
CME_MINI:ES1!   S&P 500 E-mini Futures
Broke topping pattern and stayed below all day during trading hours. Expected it drop to ~440.

August job report is concerning. Jobs available but jobless number stayed relatively high.
September being concerning months for longs, may be a short opportunity here.
Trade active:
ES first hour trapped longs and shaken out bears and failed to stay above. Broke the support and successfully stayed below the support. Expecting downturn for now. ~4470 has some good support.

if we gap below 4470, would be amazing
Trade closed: target reached:
4470 reached. Nice drop in short span. Congrats on who agreed and followed.
Trade closed: target reached:
It took a step further and hit <4450. Thats good drop and money when you trade SPX monthly (no weekly, risk is high) puts.
Trade closed manually

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.